In a report released today, Jonathan Ruykhaver from Robert W. Baird maintained a Buy rating on Rapid7 (RPD), with a price target of $72. The company’s shares closed last Monday at $49.67.
Ruykhaver noted:
“We recently hosted a visit with Rapid7’s Corey E. Thomas, Chairman & the company’s new headquarters in Boston. We come away from our visit reaffirmed in our belief that Rapid7 has truly best-in-class product offerings and that management will continue to work to innovate and maintain this status. We see substantial growth potential for InsightIDR and believe InsightVM is gaining market share. Overall, we continue to like the company and its products and Rapid7 remains one of our top ideas.”
According to TipRanks.com, Ruykhaver is a 5-star analyst with an average return of 16.8% and a 63.9% success rate. Ruykhaver covers the Technology sector, focusing on stocks such as Forescout Technologies Inc, Carbon Black Inc, and Varonis Systems.
Rapid7 has an analyst consensus of Strong Buy, with a price target consensus of $72.67.
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Based on Rapid7’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $13.42 million. In comparison, last year the company had a GAAP net loss of $14.33 million.
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Rapid7, Inc. engages in the provision of cyber security analytics and automation services. Its product includes insight platform, which offers InsightVM, InsightIDR, InsightAppSec, and InsightConnect. The company was founded by Alan P. Matthews, Tas Giakouminakis and Chad Loder in July 2000 and is headquartered in Boston, MA.
